Disney is COMPLETELY losing it. Management is now DECEIVING investors (in my opinion) by DELIBERATELY MISINFORMING them about how to vote for their board of directors at their next shareholders meeting on April 3, 2024. This is only the latest in a series of desperate actions to prevent actual shareholders with substantial investments in Disney stock from having a say in how Disney prioritizes running the company and it is OUTRAGEOUS.
The media and entertainment giant released an animated video Monday urging shareholders to vote, but only for the company’s preferred board members. The Austrian duck, who is uncle to Donald and an expert on many subjects in the Disney universe, guides the shareholders through the voting process that kicks off ahead of the April 3 shareholder meeting.
In the video, which also pulls in other classic Disney animation and the muses from Hercules, the voice over repeatedly emphasizes the company’s preferred method of voting, which involves selecting its 12 nominees who appear on a white proxy card, while suggesting that voting any other way is incorrect.
Nelson Peltz has brought in the former CFO for Disney, Jay Rasulo WHO KNOWS where the bodies are buried and how badly the company is currently being run to join him in pushing to get seats and effective control of the board of directors at Disney. Normally 2 board seats would not give someone control of a company, however everyone knows well Nelson Peltz plays hardball and very often gets exactly what he wants with multi-billion dollar companies.
Former CFO, Jay Rasulo had THIS to say TODAY in their public press release about Disney, ““The Disney I know and love has lost its way. As independent voices in the boardroom, Nelson and I are confident that the combination of my decades of experience at Disney, Nelson’s significant boardroom skills and history of driving positive strategic change, and our combined consumer brands expertise and financial acumen, will be additive to the Disney board. With a shareholder mandate, Nelson and I look forward to helping the board and management reorient the company towards delighting its consumers again and driving significant value for its owners.”
Peltz’s Trian Fund Management said Disney shareholders have lost about $70 billion in value since the activist ended its first campaign in February. Trian said that it spoke to Disney CEO Bob Iger on Thursday and that the company’s board agreed to meet with the investment firm but wouldn’t grant its request for board representation.
Activist investor Nelson Peltz, who’s looking to shake up Disney‘s board, plans to nominate two directors as candidates for directors of the Mouse House’s board: Peltz himself, and former Disney CFO Jay Rasulo.
Peltz’s Trian Fund Management said Thursday it submitted a notice of its intention to nominate the two independent director candidates at Disney’s 2024 annual shareholders meeting, expected to be held next spring.
“Disney is one of the most iconic companies in the world with unrivaled scale, unparalleled customer loyalty, irreplaceable intellectual property (IP) and an enviable commercial flywheel. However, Disney has woefully underperformed its peers and its potential,” Trian said in a statement.
Trian controls roughly $3 billion worth of Disney stock and is seeking multiple directors. The activist investor said it plans to take its case directly to shareholders, without specifying what changes it seeks. Disney said in response to Peltz’s announcement that it is moving from a period of fixing to one of building, has a strong balance sheet and continues to refresh its board.
Investors have finally started to notice Disney’s creativity is NOT what it used to be. Now Disney is focused on pushing agendas, not creating memorable stories and characters and it’s becoming widely criticized among the investment meda. The Financial Times, the UK version of the Wall Street Journal is asking, “Can Disney rediscover the magic?” They are questioning the obvious lack of creativity that’s destroying what used to be the greatest creative brand in American business.
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